China cracks down on ‘characteristic towns’ that misused land, real estate while racking up massive debt | South China Morning Post

Move is in line with China’s efforts to reduce high local government debt and excess that collectively pose a serious threat to the national economy and property market.
— Read on www.scmp.com/economy/china-economy/article/3155055/china-cracks-down-characteristic-towns-misused-land-real

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